Annual Invoice Online
Your annual invoice is now available online. Your payment is due February 1, 2014, but you have the option to pre-pay a discounted amount by December 15, 2013. Please note that December 15, 2013 falls on a Sunday and February 1, 2014 falls on a Saturday. Payments sent certified mail with a postmark date on or before December 15, 2013 will be accepted as December payments. Payments received after December 15 will be applied to the full amount due February 1, 2014. Payments sent certified mail with a postmark date on or before February 1, 2014 will be considered on time. Log on to your online programs and access your invoice, or to answer other questions about online programs.
IRS Ruling Gives Tax-Deferred Status to PFRS Contributions
Effective October 1, 2013, the mandatory 3 percent contributions made by PFRS Tier 3 (Article 14) and 5 members, and the variable mandatory contributions made by PFRS Tier 6 members are tax-deferred for federal income tax purposes. This means you can now base your employees’ federal withholding on their net earnings (after mandatory contributions are deducted) instead of gross earnings. This ruling does not affect the way you report salary and/or contributions to us.
Employer’s Guide — Check It Out
Our Employer’s Guide is your all-in-one information source to help you do your Retirement System-related work. The guide provides an overview of the System — including what we do and the services we provide. You’ll find in-depth information about contribution rates, billing schedules, independent contractor and monthly reporting guidelines, membership benefits and just about any other topic area of interest to employers. Be sure to get familiar with our Employer’s Guide .
Wages and Variable Contribution Rates for New Tier 6 Employees
The legislation that created Tier 6 established variable contribution rates for members based on their annualized wage. This video will help you understand how rates are determined and your important role in the process.